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Stocks Erase Most of an Early Plunge

But still end the day lower
By Newser Editors and Wire Services
Posted Oct 17, 2018 3:04 PM CDT
In this Oct. 2, 2018, file photo trader Sal Suarino works on the floor of the New York Stock Exchange.   (AP Photo/Richard Drew, File)

(Newser) – Stocks clawed back nearly all of an early plunge but still ended slightly lower on Wall Street, a day after the market's biggest gain in six months, the AP reports. Trading remained choppy Wednesday, with sharp drops for IBM and other technology stocks offsetting gains in banks and other financial companies. IBM plunged 7.6% after reporting weak revenue figures for its latest quarter. Netflix jumped 5.3% after announcing big subscriber gains, and homebuilders sank after the Commerce Department said construction of new homes dropped in September. The S&P 500 index fell less than 1 point to 2,809. The Dow Jones Industrial Average gave up 91 points, or 0.4%, to 25,706. It was down as much as 319 earlier. The Nasdaq composite slipped 2 points to 7,642. (Read more stock market stories.)

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